The global cryopreservation for in-vitro fertilization (IVF) market is poised for significant growth in the coming decade, according to a new market analysis. Valued at USD 461.4 million in 2023, the market is forecasted to expand to USD 1,264.9 million by 2033, reflecting an impressive Compound Annual Growth Rate (CAGR) of 10.6%.
This remarkable growth is attributed to the increasing global demand for assisted reproductive technologies (ART), with cryopreservation playing a pivotal role in revolutionizing IVF procedures. Cryopreservation, which involves freezing and storing biological samples such as eggs, sperm, or embryos, enhances the accessibility, flexibility, and success rates of IVF, contributing to the growing popularity of ART solutions worldwide.
As the adoption of ART continues to rise, cryopreservation’s importance has become even more evident. For couples undergoing IVF, the ability to preserve genetic material post-retrieval allows for greater control over family planning decisions, making ART a more flexible and reliable option for starting families.
A representative from FMI shared, “The surge in demand for ART solutions underscores a fundamental shift in reproductive healthcare, with more individuals and couples turning to assisted reproductive technologies to realize their parenthood aspirations. This market growth is supported by increased investments, research advancements, and technological innovations aimed at enhancing the efficacy and accessibility of IVF procedures.”
Several factors are driving the market’s expansion, including:
- Growing Acceptance and Utilization of IVF: As IVF procedures become more commonplace and accepted globally, the demand for cryopreservation services increases.
- Technological Advancements in Cryopreservation: Ongoing improvements in cryopreservation techniques continue to enhance success rates, ensuring higher patient satisfaction.
- Rising Infertility Rates: With infertility rates on the rise, more individuals and couples are turning to ART as a solution.
- Increasing Awareness of Fertility Preservation: More people are becoming aware of fertility preservation options, leading to a growing market for cryopreservation services.
Looking ahead, innovations in cryopreservation technologies are expected to further improve IVF success rates, widening the patient pool and enabling more individuals to preserve their fertility. Additionally, growing awareness among individuals who are delaying parenthood is anticipated to further fuel demand for IVF and cryopreservation services.
As the market continues to evolve, stakeholders across healthcare, research, and investment sectors are encouraged to stay informed about these developments to capitalize on emerging opportunities in reproductive healthcare. The projected 10.6% CAGR highlights the market’s resilience and its key role in advancing reproductive medicine on a global scale.
Key Takeaways: Cryopreservation for IVF Market
- The market for cryopreservation in IVF is expected to nearly triple in size by 2033, reaching a value of USD 1,264.9 million. This growth is attributed to a compound annual growth rate (CAGR) of 10.6%.
- The United States is a leading market for cryopreservation in IVF, with a projected CAGR of 11.2% and a valuation of USD 182.7 million by 2033.
- Europe is also seeing significant growth, with Germany and the United Kingdom experiencing CAGRs of 11.6% and 11.0% respectively. Germany is expected to reach a valuation of USD 54.8 million and the UK USD 37 million by 2033.
- The growth is driven by factors such as advancements in technology, increased awareness of fertility preservation options, and a growing healthcare infrastructure, particularly in the US.
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Competitive Landscape:
The market for cryopreservation in in-vitro fertilization (IVF) is fiercely competitive and fragmented, featuring numerous global players. Key participants are dedicated to tailoring their services to meet patient needs through ongoing research and development efforts. Furthermore, these industry leaders implement strategic initiatives such as partnerships, mergers, and acquisitions to enhance market presence and expansion.
Recent developments in the global cryopreservation for in-vitro fertilization market include:
- Vitrolife AB: In 2021, Vitrolife acquired LifeAire Systems, an Australian company specializing in air purification systems for IVF laboratories. This acquisition aims to enhance Vitrolife’s offerings in the IVF market.
- Irvine Scientific: In 2020, Irvine Scientific introduced a new vitrification solution designed to enhance embryo survival rates during cryopreservation.
- Thermo Fisher Scientific: In 2021, Thermo Fisher Scientific acquired Mesa Biotech, a California-based company known for developing diagnostic tests for infectious diseases. This acquisition is expected to bolster Thermo Fisher’s capabilities in the diagnostics market.
Other Prominent Players in the Cryopreservation in In-Vitro Fertilization (IVF) Industry are:
- Thermo Fisher Scientific Inc.
- Merck KGaA
- VWR International, LLC
- Avantor, Inc.
- Charter Medical Ltd.
- BioLife Solutions, Inc.
- Cesca Therapeutics Inc.
- Worthington Industries, Inc.
- Taylor-Wharton International LLC
Cryopreservation in In-Vitro Fertilization (IVF) Industry by Category:
By Product:
- Cryopreservation Media
- Cryopreservation Devices
- Dewars
- Cryogenic Liquid Cylinders
- Cryogenic Storage Tank
- Vapor Tanks
- Storage Alarm Systems
- LN2 Auto Fill Systems
- LN2 Sterilization Systems
- Cryo Control/Inventory Management Systems
- Storage Container
- Cryocanes
- Visotubes
- Canisters
End User:
- IVF & Fertility Clinics/Centers
- Biobanks – Research & Academic Institutes
- Cryo Shipping/Couriers
- Cryo Monitoring/Inventory Management
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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